Pi Network has made significant progress in its KYC (Know Your Customer) process to help unblock Pioneers who have faced issues with applying or completing their KYC verification. These updates contribute to Pi’s ongoing efforts toward an Open Network. Here are the latest changes:
New Application Features:
In the past two months, approximately 1.2 million Pioneers who were previously unable to proceed with their KYC applications have now been able to apply.
Resubmission Option for Rejected Applications:
Pioneers whose KYC applications were rejected due to submission errors can now resubmit once a month. This update has already helped nearly 250,000 individuals to correct their mistakes and resubmit their applications.
Processing Tentative Approvals:
Around 200,000 tentatively accepted KYC applications have been reactivated. Of these, more than 122,000 are being reprocessed to complete the KYC process. The rest require additional actions, like more liveness checks. If your application is in tentative status, ensure you take the necessary steps. More applications will be processed soon, so keep an eye on your status for any updates.
Bug Fixes for Blocked Applications:
Several key issues that prevented users from completing their KYC, such as bugs affecting liveness videos and form submissions, have now been resolved.
Upcoming Features:
- Enhanced Tentative Approvals: A new method is being tested and will soon be deployed to accelerate the processing of tentatively accepted applications, allowing more users to fully complete KYC.
- Name Mismatch Solutions: For those whose Pi Account Name does not match their KYC Name, a solution will be introduced to allow them to either appeal or update their Pi account name with a penalty of losing part of their Mobile Balance. This will address situations where users may have missed the deadline to update their account with their real name.
Moving Forward:
These updates are crucial for helping more Pioneers complete their KYC and move toward Mainnet migration. If you’ve faced KYC obstacles, now is the time to revisit your application, as recent fixes may resolve the issues that previously held you back.
Remember: Successfully passing KYC is not enough to migrate to Mainnet. Make sure to complete all Mainnet Checklist steps to transfer your balance.
December 2024 KYC Update:
We encourage all Pioneers to check their KYC status and take advantage of the opportunities to resubmit, make required changes, or resolve name mismatches. Don’t forget to remind your Referral Team and Security Circle members to verify their accounts and prepare for Mainnet migration.
To learn more about Pi Network’s native KYC solution, check out the full article and FAQs explaining its importance and how it works. Becoming a KYC Validator and encouraging others to complete their KYC will help accelerate the migration process for more Pioneers.